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The overall downturn in the crypto market has affected Dogecoin. Yesterday, within 24 hours, the open interest of Dogecoin futures contracts shrank to $1.51 billion, a decrease of 4.03% week-on-week. The price itself also couldn't withstand the pressure, falling 1.22% to $0.127.
Looking back at the previous trend, Dogecoin did experience a good rally. Currently, it is fluctuating within the range of $0.126 to $0.135 — it seems the market is repeatedly testing this price level while also accumulating energy for the next move. The short-term technical outlook still has support, but the future direction depends on whether the overall market gives an opportunity.